Foot Locker, Inc. (NYSE: FL) has reported a net loss for the second quarter of 2024 when the footwear retailer’s sales increased modestly.
Revenues increased 2% annually to $1.90 billion in the second quarter. Excluding the effect of foreign exchange rate fluctuations, sales rose by 2.5%. Comparable-store sales were up 2.6%.
The company reported a net loss of $12 million or $0.13 per share for the July quarter, on a reported basis, compared to a loss of $5 million or $0.05 per share in the corresponding prior-year period. On an adjusted basis, net loss was $0.05 per share in Q2, compared to a profit of $0.04 per share in the prior-year quarter.